Estate Executor

Posted By: Tiger Fan

Estate Executor - 12/12/03 10:27 PM

I have a two part question:

We have a loan in which the borrower (the father) died. The loan was in his name only. The son is the executor of the estate and is in the military. Does the son qualify for relief under SSCRA on this loan? I don't think so but would like another opinion.

The father and son have the same first name but different middle names. A request for relief form was received with the first and last name only. We reduced the interest rate. Now we have found out the details of the situation. If we do not have to grant relief to the son (see question 1), can we reverse the relief to the original date?

I hope this makes sense. It's situations like this that make the job interesting.
Posted By: Don_Narup

Re: Estate Executor - 12/12/03 11:25 PM

The loan is not to the son and the son did not sign it. I assume the fathers estate is paying. The son does not qualify for SSRA as its not his debt.

He is required as Executor to handle matters of his dads estate. But he cannot claim relief from a debt he does not owe.

Posted By: Andy_Z

Re: Estate Executor - 12/13/03 01:23 AM

I agree with Don. The son doesn't service this debt from personal income and that is the basis for relief under the SSCRA, debt and income.